Three Gold Mines In India, Billions $ Reserve, To Be Auctioned

[hydKaSher]

The government is planning to auction at least three gold mines in 2016, a top government official said, opening up the sector to private firms for the first time ever in a bid to slash imports of the metal that cost the government $36 billion (nearly Rs. 2.5 lakh crore) last year.

Economically crippling shipments of up to 1,000 tonnes of gold, accounting for about a quarter of India's annual trade deficit, have already prompted the government to hike import duties and launch a scheme aimed at mobilising a pool of over 20,000 tonnes of the metal lying idle in homes and temples.

 

 

Kolar has been a gold mining centre for centuries. Post-independence, it was run by state-controlled Bharat Gold Mines until its closure in 2001. It is still estimated to have up to 280 tonnes of gold to recover in dust, open pit and underground reserves.

[hydKaSher]

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[Silver_mani]

The government is planning to auction at least three gold mines in 2016, a top government official said, opening up the sector to private firms for the first time ever in a bid to slash imports of the metal that cost the government $36 billion (nearly Rs. 2.5 lakh crore) last year.

Economically crippling shipments of up to 1,000 tonnes of gold, accounting for about a quarter of India's annual trade deficit, have already prompted the government to hike import duties and launch a scheme aimed at mobilising a pool of over 20,000 tonnes of the metal lying idle in homes and temples.

 

 

Kolar has been a gold mining centre for centuries. Post-independence, it was run by state-controlled Bharat Gold Mines until its closure in 2001. It is still estimated to have up to 280 tonnes of gold to recover in dust, open pit and underground reserves.

 

if it still has gold reserves ,why not govt itself use it for mining ? why auction to private ?

[adwitiya_original]

Ambanis ki inkoti

[hydKaSher]

if it still has gold reserves ,why not govt itself use it for mining ? why auction to private ?

 

excavation costs are huge and mana degara advanced techniques levu..most of the excavating companies have patents on their excavation methods.. avi auction vesthe nanna manaki employment and taxes and lease dabbul osthai ani  and secondly, akkada nunchi teesina gold, malli India lone ammutharu, again taxes for govt.

[hydKaSher]

Ambanis ki inkoti

 

[kiladi bullodu]

Kottesamu

[hydKaSher]

Kottesamu

 

evarni